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Company liquidation

Company liquidation

For the purposes of liquidation, a liquidator is selected. As liquidator, a member of management or statutory authority is ussually chosen. For many businessmen, the process of liquidation is complicated and non-standard. There are deadlines and demands that are to be abided. Shall the process of liquidation be incorrect, there are lags and fines as well as possible very unpleasant criminal consequences.

It is therefore advisable to hire field specialists that will ensure quick and flawless process of liquidation.

Even this service is arrangable after agreement. Do not hesitate to contact us below.

Basic information on company liquidation

Cancelling can be initiated in two ways:

  • court order
  • cancelling in purpose of settlement of company_s property issues

Reasons for canceling and liquidation of comapny

Business company may be canceled from several reasons:

  • in purpose of preventing competition
  • expiry of defined duration
  • decision of statutary authority
  • accomplishment of the purpose of company's existence

Company liquidation procedure

  1. termination of all business activity
  2. selection of a liquidator that becomes a statutary authority for liquidation purposes
  3. inventarisation of all properties and liabilities
  4. settlement of company's liabilities (up to this phase copany liquidation can be aborted if the reasons for liquidation cease)
  5. distribution of liquidation balance among companions
  6. request for deletion from commerical register